India’s Fiscal Policy

Taxation

GST

  • As per Goods and Services Tax (Period of Levy and Collection of Cess) Rules, 2022, compensation cess will continue to be levied from July 1, 2022, to March 31, 2026.
  • About GST
    • GST Rates: GST has multiple tax rates, which are categorized into four main slabs: 5%, 12%, 18%, and 28%. There are also specific rates for certain items like luxury goods and essential commodities.
    • GST Compensation Cess: Compensation cess is levied over and above the amount of GST charged in relation to a particular supply.
    • Dual GST Structure: GST in India follows a dual structure, comprising the Central Goods ....
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